Formula 1's Miami Grand Prix, which includes F1 Ethereum NFTs, will take place next weekend. FTX, in partnership with F1 Team Mercedes, is preparing to launch an NFT (non-fungible token) powerhouse available in premium action and free-to-claim formats.

F1 Team Mercedes-AMG Petronas, along with the FTX crypto platform, announced collaborations and the release of rare NFT (non-fungible token) collectibles at the Miami Grand Prix and other racing events for this season.

FTX and F1 fans await the grand launch of 1,000 limited-edition, free-to-request NFT ticket stubs to experience the launch of NFT (non-fungible token) at the Miami Grand Prix and other races this year.

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For these racing events, the FTX and F1 team have also partnered with respected artist Mad Dog Jones, who will release more than 10 exclusive limited editions of Ethereum NFT artworks for auction.

Two of the Mad Dog Jones NFT artworks will come with the physical rear wing endplate of Mercedes cars used by none other than the intrepid George Russel and Lewis Hamilton.

According to Lou Frangela, Vice President of Partnerships at FTX, with the launch of the F1 Ethereum NFT in Miami, the vision is to combine culture, art and Formula 1 into one big event. According to the statements made, they are working to make this launch great in Miami with a unique staff.

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Bidding for the F1 NFT event will begin on May 6, which will also be the date that practice for the Miami Grand Prix begins. Auctions will continue until May 13. In addition, FTX and F1 will also host a physical NFT gallery.

Proceeds from the sale of the F1 NFT will also go to Ignite, an initiative founded with F1 Hamilton's Mission44 Foundation that supports motorsport participation and diversity.